Windtree Therapeutics' Stock Offering and Patent Win Drive Market Attention
Windtree Therapeutics has priced its underwritten public offering of 3,686,006 shares of common stock and warrants to purchase up to 3,686,006 shares of common stock at a combined public offering price of $2.93 per share of common stock and accompanying warrant, less the underwriting discounts and commissions. The gross proceeds from the offering to the company, before deducting underwriting discounts and commissions and other offering expenses and excluding any proceeds that may be received upon the exercise of the warrants and the exercise of the underwriter’s option to purchase additional shares of common stock and/or warrants, are expected to be approximately $10.8 million. The company intends to use up to $3.5 million of the net proceeds of the offering to extend enrollment and complete a Phase 2 clinical trial for istaroxime in cardiogenic shock, with the remainder of the net proceeds being used for working capital and other general corporate purposes.